Oil & Gas Pumps Market Size is Projected to be Worth $10.36 Billion by 2023

The global Oil and Gas Pumps Market industry is projected to reach USD 10.36 billion by 2023 from an estimated USD 8.47 billion in 2018, at a CAGR of 4.12%. This growth can be attributed to the increasing unconventional resources in the North American, South American, and Asia Pacific regions and development of gas terminals.

Browse 85 market data Tables and 36 Figures spread through 142 Pages and in-depth TOC on "Oil & Gas Pumps Market by Type (Centrifugal, Positive Displacement (Screw Pumps, Reciprocating Pumps, Rotary & Gear Pumps, Progressive Cavity Pumps), Cryogenic), Application (Upstream, Midstream, Downstream), Region - Global Forecast to 2023"

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The centrifugal pump segment is expected to hold the largest share of the pumps market in oil & gas industry, by type, during the forecast period.

The centrifugal pump segment is estimated to dominate the pumps market in oil & gas industry in 2018 and is projected to have the largest market share during the forecast period. Centrifugal pumps are preferred for processes that handle low viscosity liquids and high flow rates. Various types of centrifugal pumps are used in a wide variety of applications. The ability of these pumps to be used across various applications has resulted in their higher market share.

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The midstream segment is expected to hold the largest share of the pumps market in oil & gas industry, by application, during the forecast period.

The midstream segment is estimated to dominate the pumps market in oil & gas industry in 2018 and is projected to have the largest market share during the forecast period. The midstream oil activities mainly include transportation of crude oil and refined products over land, using a network of pipes and pumping stations as well as trucks and rail cars. The growth of unconventional resources is creating the need for an expanded midstream network of pipelines, rail, tankers, and terminals. This is expected to drive the pumps market in the midstream segment.

North America: The leading market for pumps in oil & gas industry

In this report, the pumps market in oil & gas industry has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South America.  North America is estimated to dominate the global pumps market in 2018 owing to the growth in unconventional resources in the US and Canada. The demand from the onshore & offshore fields in the Gulf of Mexico is also likely to impact the pump market positively during the forecast period.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the oil & gas pumps market. The key players include Flowserve (US), Sulzer (Switzerland), KSB (Germany), Weir Group (UK), and Grundfos (Denmark). The leading players are adopting various strategies to increase their shares in the pumps market in oil & gas industry.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Superconducting Wire Market 2021 Evolution Analysis and In-Depth Analysis on Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast to 2021

The superconducting wire market is expected to grow at a CAGR of 9.6% from 2016 to 2021, to reach a market size of USD 1,008.2 million by 2021. Growing demand for superconductor based MRI system and synergies of H.V. transmission application and high efficiencies are the major drivers of the superconducting wire market.

Browse 68 market data tables and 40 figures spread through 125 pages and in-depth TOC on “Superconducting Wire Market by Type (High Temperature Superconductors (First Generation and Second Generation), Low and Medium Temperature Superconductors), Application (Energy, Medical, Industry, Research), and Region - Global Forecast to 2021"

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The superconducting wire market is dominated by a few major players that have a wide regional presence and are established brand names. Leading players in the superconductor industry include American Superconductor Corporation (U.S.), Bruker Corporation (U.S.), Furukawa Electric Co., Ltd. (Japan), Fujikura Ltd. (Japan), and Superconductor Technologies Inc. (U.S.) has developed new products and implemented advanced production technology to bolster its product portfolio.

The report segments the superconducting wire market by application into energy, medical, research, industry, and others application. The energy application segment is expected to grow at the fastest rate during the forecast period. Development of smart cities and strict energy-efficiency standards will likely to drive the overall energy segment, which is expected to create new revenue pockets for the superconducting wire market during the forecast period.

With regard to the type segment, HT superconductors are expected to constitute the fastest growing market from 2016 to 2021. This is because of cheaper cryogenic systems required for HT superconductor material which makes the superconductor devices cost effective. These are used in manufacturing of energy efficient superconducting cables and fault current limiters. In the research segment, it is used in large coil magnets for high energy physics experiments.  

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North America is expected grow at the highest CAGR during the forecast period. The region has been very active in the field of superconductivity since the beginning and is continuously making improvements in this technology to make it more feasible for the practical use. There are several research projects based on superconductors underway, in universities such as University of Houston, and Massachusetts Institute of Technology in the U.S. which have made several breakthroughs in superconductor technologies for applications such as medical, energy, and industrial.. High investments are being made in the region to commercialize superconductors and to exploit its advantages to the fullest.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Gas Turbine Services Market: Evolving Technology, Trends and Industry Analysis Research Finding by 2021

The report "Gas Turbine Services Market by Type (Heavy Duty, and Aero-Derivative), Service (Maintenance, Repair, and Overhaul), End-User (Power Generation, Oil & Gas), Service Provider (OEM, and NON-OEM), and Region - Global Forecast to 2021", is projected to grow at a CAGR of 4.1% from 2016 to 2021 to reach USD 18.45 Billion by 2021, up from estimated value of USD 15.11 Billion in 2016.    Stringent emission regulations for gas turbines and upgradation of aging fleet of gas turbine drives the market for gas turbine services.

Browse 65 market data tables and 47 figures spread through 157 pages and in-depth TOC on “Gas Turbine Services Market - Global Forecast to 2021”

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Maintenance segment is expected to hold the largest share of gas turbine services market, by service, during the forecast period

Maintenance service led the overall gas turbine services market in 2015, and is expected to dominate during the forecast period. Almost half of the gas turbine services market is expected to be dominated by the maintenance service owing to rise in demand inspection and monitoring services for newly installed gas turbines. In addition, advent of gas turbine monitoring services such as intelligent condition monitoring and big data analytics for preventive and predictive maintenance will drive the market for maintenance services. However, the overhaul services is expected to grow at a fastest rate during the forecast period.

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Power generation to dominate the gas turbine services market, by end-user during the forecast period

Power generation is expected to hold almost half of the gas turbine market during the forecast period. The market is driven by the rise in demand for gas turbines for combined cycle power plants. The total gas turbine installation capacity for power generation exceeded about more than 50 GW in 2015. These turbines will require frequent inspection and maintenance of parts such as rotors, blades, and liners among others. This will drive the market for power generation segment during the forecast period. Middle East & Africa are the potential markets for power generation gas turbine services during the forecast period.

North America: The leading market for gas turbine services

North America is expected to dominate the gas turbine services market owing to the large number of existing and aging gas turbines fleet in the U.S. and Canada. Large number of long term service agreements for gas turbine services are also seen this region. In addition, demand for gas turbine services for mechanical drive application for process industry will also drive the market for gas turbines services in North America.

 

Drivers   

• Stringent Emission Norms for Gas Turbine
• Shale Gas Production Boom
• Upgradation of Aging Fleet of Gas Turbines

Restraints

• Increasing Focus on Renewable Energy
• Rising Cost of Spare Parts, Labor Costs, & Transportation Costs
• In-House Maintenance Hinders Outsourcing Service Opportunities

Opportunities

• Increase in Number of Combined Cycle Power Plants
• Rise in Demand for Condition Monitoring Services & Data Analytics

Challenges

• Availability of Skilled Workforce

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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the laminated busbar market General Electric Company (U.S.), Siemens AG (Germany), EthosEnergy (U.K), Sulzer AG (Switzerland) and Ansaldo Energia, SpA (Italy). Leading players are trying to penetrate the markets in developing economies and are adopting various strategies such as acquiring service contracts & agreements and mergers & acquisitions to increase their market share.

Scope of the report

This study estimates the global market for gas turbine services market, in terms of USD, till 2021. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and technological overview. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the gas turbine services market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com